SMU's January At-a-Glance

Both steel and scrap prices increased in the month of January, raising with them optimism levels over market conditions one month into the new year. The average price for hot rolled steel rose by about $30 per ton in January. The benchmark price for hot rolled peaked at $610 per ton in mid-January, but ended the month slightly lower at $590 per ton. Steel Market Update’s Pricing Momentum Indicator continued to point upward through the end of last month, but the price trend was beginning to show signs of potential slowing.

SMU Buyers Sentiment Index readings showed significant improvement over December with Current Sentiment at +62, Future Sentiment at +63.5 and the three-month moving average at +51.33, quite an improvement from the lower readings seen in December and for most of 2019.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.